Lanco Infra settles Rs 19,600-cr lawsuit by Oz firm. Shares up 10%

Griffin Coal, a subsidiary of Lanco Infratech Ltd in Australia, today said the protracted litigation for a claim of 3.5 billion Australian dollars (around Rs 19,600 crore as per latest exchange rate) initiated by Perdaman Chemicals against it has been settled. According to a release issued by Lanco, the Australian coal miner has agreed to…

CCI Clears Investment in Oil Blocks & Power Projects.

The government has cleared investments in another 25 oil blocks, which the defence ministry had opposed, approved 13 projects of power sector involving Rs 33,000 crore investments, but deferred a decision on coal price pooling. The Cabinet committee on investment (CCI) gave conditional clearance to 16 oil blocks while nine others were approved without any…

Siemens Signs Rs 104.40 Cr Contract With BSRM (Bangladesh Steels Re-Rolling Mills)

  Siemens has inked a contract worth Rs 104.4 crore with Bangladesh Steels Re-Rolling Mills (BSRM), the largest steel manufacturing company in Bangladesh, to build a Gas Insulated Switchgear (GIS) substation. This is the first private sector-funded GIS substation project and has the largest order size in the GIS segment in Bangladesh. BSRM will be…

L&T, BHEL win big ticket EPC orders, shares gain.

Heavy engineering and construction major Larsen & Toubro climbed around 2.5 percent to Rs 1398 after it said that it has bagged Rs 5689 crore order to set up a 2 x 660 megawatt supercritical thermal power project in Rajasthan The order involves design, engineering, manufacture, supply, erection and commissioning of two coal-fired thermal units…

Transporters threaten to go on indefinite strike from April 1

Transporters body All India Motor Transport Congress (AIMTC) on Tuesday warned 75 lakh trucks and 40 lakh buses will stop plying from April 1 if demands, including withdrawal of hike in diesel prices and rollback of hike in third party insurance premium, are not met. Disappointed over no concrete response to their demands from the…

MoEF initiates steps for speedy clearances of infra projects

Infrastructure projects, including those related to coal and highways, stuck for want of green nod are expected to be cleared soon with MoEF on Wednesday informing the Cabinet Committee on Investment (CCI) that it has initiated steps for speedy approval to schemes. “Ministry of Environment and Forest (MoEF) has informed the CCI that they have…